Morgan Stanley Cuts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $5.00

Petco Health and Wellness (NASDAQ:WOOFFree Report) had its price target cut by Morgan Stanley from $6.00 to $5.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages also recently issued reports on WOOF. Wells Fargo & Company boosted their price objective on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Wedbush boosted their price objective on Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price target on shares of Petco Health and Wellness in a research note on Friday, December 20th. Finally, StockNews.com upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Petco Health and Wellness presently has a consensus rating of “Hold” and a consensus price target of $4.16.

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Petco Health and Wellness Trading Up 6.0 %

Shares of NASDAQ:WOOF opened at $3.87 on Tuesday. The stock has a 50 day moving average of $4.18 and a 200 day moving average of $3.97. The company has a market cap of $1.21 billion, a PE ratio of -9.68 and a beta of 1.90. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $6.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Frank Rimerman Advisors LLC bought a new position in shares of Petco Health and Wellness during the 2nd quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Petco Health and Wellness by 253.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after acquiring an additional 8,056 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Petco Health and Wellness during the 3rd quarter valued at approximately $58,000. Sanctuary Advisors LLC bought a new position in shares of Petco Health and Wellness during the 3rd quarter valued at approximately $66,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Petco Health and Wellness during the 2nd quarter valued at approximately $78,000.

About Petco Health and Wellness

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Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.

Further Reading

Analyst Recommendations for Petco Health and Wellness (NASDAQ:WOOF)

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